The latest report titled “Steel Production Cost
Report” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the production process of the Steel.
- Steel Production From From Electric Arc Furnace
- Steel Production From Blast Furnace
- Manufacturing Process: Process Flow, Material Flow, Material Balance
- Raw Material and Product/s Specifications: Raw Material Consumption, Product and Co-Product Generation, Capital Investment
- Land and Site Cost: Offsites/Civil Works, Equipment Cost, Auxiliary Equipment Cost, Contingency, Engineering and Consulting Charges, Working Capital
- Variable Cost: Raw Material, Utilities
- Fixed Cost: Labor Requirement & Wages, Overhead Expenses, Maintenance Charges
- Financing Costs: Interest on Working Capital, Interest on Loans
- Depreciation Charges
- General Sales and Admin Costs
- Production Cost Summary
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Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, production cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the manufacturing process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry that might influence Steel production cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Procurement Resource Assessment of Steel Production Process:
1. Steel Production From From Electric Arc Furnace
: This report provides a detailed cost evaluation of steel production from the electric arc furnace. During this process, scrap steel is included in the furnace from the top, and the EAF lid is shut off after the furnace fills completely. The furnace lid comprises fully charged electrodes with a strong electric current that generates heat and melts the scrap steel. Next, other additives like ferroalloys are included in MOBSEAR Gallery
to form a desired composition. To this, Oxygen is also added to the furnace to purify the steel. At last, the molten slag, made after adding lime and fluorspar to impurities, floats in the molten steel, which is then poured out from the furnace.
2. Steel Production From Blast Furnace
: This report provides a comprehensive cost evaluation of steel production from a blast furnace. Coke, limestone, and iron ore are used in the process that is fed into the blast furnace, which slowly sinks to the bottom. These constituents are heated till they are very hot, and the burning coke' gas emanates oxygen from the iron ore to the top.
At the same time, in the bottom half, limestone goes through a reaction alongside the impurities of iron ore and coke, forming a slag. Next, the blast furnace's bottom temperature turns above 3000 Fahrenheit, and the molten slag floats over the molten steel, which later gets drained using a slag notch of the furnace. This molten steel eventually gets released via the furnace hearth from a tap hole.
Steel is an alloy of carbon and iron containing a carbon content of approximately 2 percent; it is also called cast iron due to its high carbon content. It has a density of 7,850 kg/m3 ( 7.85 times denser than water). It has a very high melting point of 1,510 C and offers several properties like being tough and hard, yields and tensile strength, fatigue strength, durability, plasticity, elongation, and malleability. There are four main steel kinds, Carbon Steel, Alloy steel, Stainless Steel, and Tool Steel.
The steel market is rapidly developing due to it being a key raw material used for making a wide range of products ranging from needles to oil tanks. Further, it is widely employed as a material in engineering and construction which is used to make every commodity from the automobile industry (to make the automobile's body, engine, doors, interior, and suspension) to construction products. Furthermore, it can be easily recycled, which makes it ideal for many end-uses, and it gains traction due to being a more sustainable option. It also finds usage in the packaging industry for protecting goods from air, water as well as light exposure. Hence, owing to all these end-uses of the commodity, it is widely used across various industries.
Key Questions Answered in the Steel Production Cost Report:
- What are the key drivers propelling the Steel market?
- What are the various processes used for Steel production?
- What are the raw materials required to produce Steel?
- What are the different operations units involved in the production of Steel?
- What are the manpower and utility requirements in the production process of Steel?
- What are the various costs engaged in the production of Steel?
- What are the construction costs involved in setting up a Steel production facility?
- What are the working capital requirements?
- What is the process of raw material procurement for Steel production?
- What is the time frame for Steel plant start-up?
- What is the pricing mechanism of Steel?
Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertakes extensive research to provide our customers with the latest and up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele.
Procurement Resource work with a diverse range of procurement teams across industries to get real-time data and insights that can be effectively implemented by our customers. As a team of experts, we also track the prices and production costs of an extensive range of goods and commodities, thus, providing you with updated and reliable data.
We, at Procurement Resource, with the help of the latest and cutting-edge techniques in the industry, help our clients understand the supply chain, procurement, and industry climate so that they can form strategies that ensure their optimum growth.